ANL 20.85 Decreased By ▼ -1.48 (-6.63%)
ASC 13.54 Decreased By ▼ -1.06 (-7.26%)
ASL 23.00 Decreased By ▼ -0.65 (-2.75%)
BOP 8.20 Decreased By ▼ -0.08 (-0.97%)
BYCO 7.81 Decreased By ▼ -0.34 (-4.17%)
FCCL 17.80 Decreased By ▼ -0.17 (-0.95%)
FFBL 22.75 Decreased By ▼ -0.73 (-3.11%)
FFL 15.50 Decreased By ▼ -0.60 (-3.73%)
FNEL 7.35 Decreased By ▼ -0.62 (-7.78%)
GGGL 17.83 Decreased By ▼ -1.57 (-8.09%)
GGL 40.01 Decreased By ▼ -1.73 (-4.14%)
HUMNL 6.02 Decreased By ▼ -0.32 (-5.05%)
JSCL 18.30 Decreased By ▼ -1.07 (-5.52%)
KAPCO 36.35 Decreased By ▼ -0.83 (-2.23%)
KEL 3.40 Decreased By ▼ -0.08 (-2.3%)
MDTL 2.65 Decreased By ▼ -0.05 (-1.85%)
MLCF 35.10 Increased By ▲ 0.11 (0.31%)
NETSOL 129.40 Decreased By ▼ -9.90 (-7.11%)
PACE 4.75 Decreased By ▼ -0.37 (-7.23%)
PAEL 27.00 Decreased By ▼ -1.35 (-4.76%)
PIBTL 8.85 Decreased By ▼ -0.05 (-0.56%)
POWER 7.45 Increased By ▲ 0.15 (2.05%)
PRL 17.15 Decreased By ▼ -1.15 (-6.28%)
PTC 10.01 Increased By ▲ 0.01 (0.1%)
SILK 1.50 Decreased By ▼ -0.01 (-0.66%)
SNGP 45.00 Decreased By ▼ -0.30 (-0.66%)
TELE 18.89 Decreased By ▼ -1.52 (-7.45%)
TRG 162.70 Decreased By ▼ -6.80 (-4.01%)
UNITY 32.95 Decreased By ▼ -0.10 (-0.3%)
WTL 2.94 Decreased By ▼ -0.02 (-0.68%)
BR100 4,733 Decreased By ▼ -88.48 (-1.84%)
BR30 22,802 Decreased By ▼ -674.49 (-2.87%)
KSE100 45,297 Decreased By ▼ -300.36 (-0.66%)
KSE30 17,811 Decreased By ▼ -218.45 (-1.21%)

Coronavirus
VERY HIGH Source: covid.gov.pk
Pakistan Deaths
27,432
5824hr
Pakistan Cases
1,232,595
2,35724hr
4.9% positivity
Sindh
453,051
Punjab
425,703
Balochistan
32,812
Islamabad
104,619
KPK
172,210

NEW DELHI: India’s fuel consumption could rise by 9.8% in the year to March 2022, its highest pace of growth in six years, driven by robust demand for gasoline and gasoil in Asia’s third largest economy, according to initial government projections.

Higher expectation of fuel consumption, a proxy for oil demand, points to a sharp recovery in industrial activity in the economy hit hard by the pandemic.

India could consume 215.24 million tonnes of refined fuels in the financial year 2021/22 compared to the revised estimate of 195.94 million tonnes consumed in 2020/21, data posted on the website of Petroleum Planning Analysis Cell (PPAC) showed.

India’s economy returned to growth in the three months to December with its gross domestic product rising 0.4% compared with the same period a year earlier.

The recovery is expected to gather pace as consumers and investors shake off the effects of the coronavirus pandemic.

During April 2020 to January 2021, the first 10 months of this fiscal year, India’s fuel consumption fell by 13.5% as lockdown measures to stem the spread of COVID-19 hit demand in the world’s third biggest oil consumer.

The increase in India’s fuel consumption will aid global oil markets as the nation is seen as a main driver of rising demand for energy over the next two decades, the International Energy Agency said in January.

Local sales of gasoil and gasoline, which together account for half of overall refined fuel sales in India, is projected to rise by 13.3% each, the data showed.

Consumption of diesel is related closely to economic growth and accounts for up to 40% of the refined fuel sales in India.

With easing restrictions and resumption of business, India’s jet fuel sales are expected to reach 6.45 million tonnes in 2021/22, a growth of about 74.2% from the revised estimates of this year, the data showed.

Sale of liquefied petroleum gas, mainly used for cooking, is expected to rise 4.8% to 29 million tonnes, the data showed.

Comments

Comments are closed.